The director of market intelligence at an investor relations firm has been arrested in New York on insider trading charges after authorities said he earned more than a half-million dollars trading illegally.
Michael Lucarelli was arrested today. He was a director at Lippert/Heilshorn & Associates Inc., an investor relations firm based in Manhattan.
Authorities say Lucarelli made the illegal trades using information from the working drafts of press releases his company prepared for its clients.
More From This Section
Lucarelli's lawyers did not immediately respond to messages for comment.